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A company plans to start paying dividends in year 3. From year 3, its business is expected to grow at 5% per year, and dividends

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A company plans to start paying dividends in year 3. From year 3, its business is expected to grow at 5% per year, and dividends are expected to grow indefinitely at the same rate. The required return on the stock is 15%. If the company wants the current share price to be $32, how much dividend should be paid in year 3

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